Corporate Actions

[Fungus]

I have two ASX listed shares which are having corporate actions. One is a vote on a takeover and the other is a rights issue.

I can see that IG require you to physically print out the voter form and send it in, reaching them seven days prior to the meeting date. In this day and age surely scanning a completed form and emailing it back is easier. IG do not want to make it easy for you.

The more important question is regarding the rights issue. I have contacted the company directly about how to take up the rights issue without an Australian bank account (there requirements seem to be that it has to go via an Australian account).

They tried to be helpful but advised that they could not see my name on the register. How do IG hold the shares - is it through a custodian and if so who is it? how can the company see the individuals owning its shares?

 

[ArvinIG]

1 minute ago, Fungus said:

I have two ASX listed shares which are having corporate actions. One is a vote on a takeover and the other is a rights issue.

I can see that IG require you to physically print out the voter form and send it in, reaching them seven days prior to the meeting date. In this day and age surely scanning a completed form and emailing it back is easier. IG do not want to make it easy for you.

The more important question is regarding the rights issue. I have contacted the company directly about how to take up the rights issue without an Australian bank account (there requirements seem to be that it has to go via an Australian account).

They tried to be helpful but advised that they could not see my name on the register. How do IG hold the shares - is it through a custodian and if so who is it? how can the company see the individuals owning its shares?

 

Hi @Fungus,

Under Share Trading with IG, shares purchased are held by Citi in a direct custody capacity.  Australian shares purchased through IG are registered in CHESS under Citicorp Nominees Pty Limited, with a CHESS Participant Identification Number (PID) 20018. More information here.

Once our Corporate Action team will have all the details of the right issue from the custodian, they will send you an email will all the details of the corporate action as well as the deadlines. All you will have to do is to reply to that email with your instructions.

I hope that it helps !

All the best - Arvin

[Fungus]

Thanks fir your response Arvin. I look forward to the email. i don't think i have ever received an email from your corporate Action team in the past.....